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Golden Chick

$ 1,940,870
Lancaster, Texas
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Newly Listed

Address: 1444 W Pleasant Run Road, Lancaster, Texas, United States 75146

Type: Restaurant

Cap Rate: 5.75%

Lease Type: Triple Net (NNN)

Annual Rent: $111,600

Net Operating Income: $111,600

Lease Term Remaining: 20 Years

Rental Increases: 1.50% Annually

Options: Four (4), Five (5) Year Option Periods

Rentable Sq/Ft: 2,034 SF

Rent Sq/Ft: $54.87

Price Sq/Ft: $954

Lot Size: +/-0.58 Acres

Marcus & Millichap is pleased to present the exclusive listing for a Golden Chick located at 1444 W Pleasant Run Rd, Lancaster, TX. The property consists of 2,034 square feet of building space and is situated on approximately 0.58 acres of land.

The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the close of escrow. The lease will call for 1.50% annual rental increases that will continue through the base term and into the four, five-year tenant renewal options. The lease will carry a corporate guaranty from Golden Franchising Corporation, the chain’s franchisor.

This Golden Chick property is located at 1444 W. Pleasant Run Rd in Lancaster, Texas. Lancaster is a suburban community located in the Dallas-Fort Worth Metroplex, approximately 15 miles south of Downtown Dallas.

The subject property is well-positioned on W. Pleasant Run Rd and is surrounded by many major national and local tenants. National brands in the area include: Walgreens, CVS Pharmacy, Family Dollar, Dollar Tree, Cititrends, Fiesta Mart, Anytime Fitness, 7-Eleven, McDonald’s, Wing Stop, and many others. Within two miles of the subject property are many schools, such as, Pleasant Run Elementary School (~370 students), Elsie Robertson Middle School (~1,000 students), and Lancaster High School (~2,075 students). The subject property is located in an area that has national retailers, as well as very dense residential neighborhoods, which surround it.

This area has very strong demographics, with approximately 46,409 people residing within a three-mile radius and 121,925 people within a five-mile radius of this property. This Golden Chick is located on W. Pleasant Run Rd, which intersects directly with N. Dallas Ave. These two roads boast significant traffic counts of 20,100 and 13,800 vehicles per day, respectively.

Lancaster is a city located in Dallas County, Texas. In early years, Lancaster was an agrarian market center for the surrounding area, but arrival of railroads in the late 19th century transformed the community into a transportation hub. As the city has grown, the economic base has diversified. Today, light industrial, manufacturing, distribution, health care, education, residential development, and retail services are all significant components of the local economy. Lancaster has attracted the attention of logistics-related companies in recent years. The city’s location in the fast-growing Dallas-Fort Worth Metroplex region, land availability, easy access to three major interstate highways, Lancaster Regional Airport, and a planned 200-acre BNSF intermodal freight facility round out the logistic options of road, rail, and air for the transport of goods. ProLogis Park is the largest logistics business park in Lancaster. It was developed in 2006 and now houses manufacturing and warehouse facilities for ProLogis, Quaker Oats/PepsiCo, and BMW among others. Lancaster is served mainly by the Lancaster Independent School District, consisting of eleven campuses: seven elementary schools, one sixth grade center, one middle school, one high school, and an alternative school, totaling approximately 6,800 students. Cedar Valley College is also home to Lancaster and has a total enrollment of about 6,375 Students.

 

 

Broker of Record: Timothy Speck – License # 432723

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Glen Kunofsky

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(212) 430-5115